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Conservation and Climate Adaptation Trust of Seychelles Act, 2015 (No. 18 of 2015).

Country/Territory
Seychelles
Document type
Legislation
Date
2015
Source
FAO, FAOLEX
Long title
An Act to provide for establishment of the Conservation and Climate Adaptation Trust of Seychelles for the purpose of regulating the debt swap transactions and for matters connected therewith or incidental thereto.
Subject
Environment gen., Wild species & ecosystems
Keyword
Institution Climate change Sustainable development Biodiversity Management/conservation Special fund
Geographical area
Africa, Eastern Africa, Indian Ocean, Small Island Developing States
Entry into force notes
The Act shall come into operation on 19th November, 2015 (S.I. 56 of 2015).
Abstract

This Act establishes the Conservation and Climate Adaptation Trust of Seychelles as a corporate body. It also defines the objects functions and powers of the Trust and provides with respect to its administration. The Trust shall be instrumental in administering debt swap transactions for purposes of supporting the long-term management and expansion of the Seychelles system of protected areas and other activities which contribute substantially to the conservation, protection and maintenance of biodiversity and the adaptation to the climate change as identified through consultations with stakeholders. The Trust shall, as long as it receives the debt swap incomes, each year use at least 35 percent of the annual payments received from the debt swap incomes to deposit in the Endowment Fund in order to generate income by investing the Endowment Fund in such appropriate manner as the Board of the Truist may determine. "Debt swap incomes" means the payments received by the Trust in respect of the debt swap transactions (between the Trust and the Seychelles in respect of repayment, rescheduling, forgiveness or cancellation of sovereign debt). The Trust may advice the Government on matters affecting any protected area or eligible protected area.

Full text
English
Website
www.seylii.org

References - Legislation

Amended by

Conservation and Climate Adaptation Trust of Seychelles (Amendment) Act, 2022. (Act 23 of 2022).

Legislation | Seychelles | 2022

Keyword: Institution, Climate change, Sustainable development, Special fund, Biodiversity, Management/conservation

Source: FAO, FAOLEX